The Cellar - View Single Post - LJ: credit crunch affecting consumers yet?

lookout123 · 05-13-2010, 10:29 AM

financial discipline is just a habit. either you make the choice to cultivate it or not. some people who are paid biweekly even go so far as to set up auto payments for half of the mortgage payment with each and every paycheck. That effectively makes one extra payment per year. That extra payment plus the interest that wasn't compounded typically pays a 30 year mortgage off in roughly 22 years.

05-13-2010, 10:29 AM	#4
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	financial discipline is just a habit. either you make the choice to cultivate it or not. some people who are paid biweekly even go so far as to set up auto payments for half of the mortgage payment with each and every paycheck. That effectively makes one extra payment per year. That extra payment plus the interest that wasn't compounded typically pays a 30 year mortgage off in roughly 22 years. __________________ Getting knocked down is no sin, it's not getting back up that's the sin